What is tuition assistance program

Part-time students must meet all of the above requirements and must complete a minimum of 24 credit hours in two consecutive semesters.

There are several limits depending on your tax status and number of dependents:. Second, you need to submit the TAP application , which can be done online. Gillis, Carly. Updated January 15, Have lived in the state continuously for one year. Have graduated from a U. Attend a postsecondary school in New York. Another way for companies to save money, as well as make the idea of continuing education more attractive to employees, is to provide nontraditional education options, such as correspondence, television, videotape, or Internet classes.

Thousands of accredited courses are available through these alternative means, which allow busy employees with family responsibilities to fulfill course requirements on their own time without having to sit in a formal classroom.

Collectively known as "distance learning," these options offer employees a great deal of flexibility. However, it is important to make sure that such programs are regionally accredited so any credits earned will transfer to traditional schools if necessary. Employers can also save money on tuition assistance programs by helping employees receive college credit for skills and knowledge they may already possess. For example, about colleges offer students the opportunity to demonstrate their knowledge of various subjects through a life-experience portfolio.

When employees have mastered the content of a course through work experience, they may be able to obtain college credit without actually having to spend time or money on a class. This option might, for instance, enable a person employed as a bookkeeper to pass out of an intermediate accounting course. Assessment tests, offered by college testing services, provide a similar, relatively inexpensive, option. Such testing enables some employees to reduce the amount of formal education they need to obtain a degree, which also reduces the time and cost involved in their education.

In addition, gaining credit for skills and knowledge can enhance employees' self-esteem and bring them recognition for their skills at work. Some firms worry that offering a liberal tuition reimbursement policy will not be fully taken advantage of if participants do not invest the effort required to earn passing grades.

These firms will often include guidelines and restrictions in their tuition reimbursement policies that attempt to guard against this possibility. For instance, companies can tie reimbursement to grades—a certain percentage for an A, a B, a C and so on. Employers can also avoid this potential problem by requiring students who fail a course to either repeat it or pay back the company for related tuition and fees.

Many businesses providing tuition assistance to employees fear that the worker will depart for greener pastures after taking advantage of the program.

In order to reduce the likelihood of losing newly educated employees, some companies require participants in their tuition assistance programs to remain at the company for a certain length of time or else reimburse the company for part of the tuition paid on their behalf. Many businesses also limit enrollment in such programs to individuals who have already been with the company for a certain amount of time typically six months to one year.

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Advice and Tips to Help You Pay for School With so many options for paying for school it can often be difficult to figure out which benefit is best for you.